The author is a Forbes contributor. The opinions expressed are those of the writer.

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The brilliance of Steve Jobs at Apple (AAPL) has been embodied in a carefully cultivated image for Apple products. Jobs created elegant products that appear to be meant for the elite but were sold to the masses. When the masses bought Apple products, they felt good because they were buying what the rich were buying. When masses used Apple products, their experience was head and shoulders above competing products; the masses quickly learned what the rich were used to.

In countries like China, displaying an iPhone quickly became a badge of ‘I have made it’.

The genius of Steve Jobs was creating an image that produced a halo effect leading to the masses starving for Apple products.

In quite a contrast to Apple, Wal-Mart (WMT) is pedestrian. Traditionally Wal-Mart customers have been the low income sections of the society. And yes, there is no shortage of snobs who would not be caught dead in a Wal-Mart.

As if Apple needed more trouble, Wal-Mart now has just killed Apple’s feel good elitist image that Steve Jobs so carefully cultivated.

Wal-Mart has announced that it will offer iPhone 5, the latest iPhone, on its $45 a month no contract unlimited talk, text, and data plan. The offering will be available in more than 2000 Wal-Mart stores.

You may ask, ‘How can a typical low income Wal-Mart shopper afford a $600 iPhone 5?” Wal-Mart has the answer; it will offer special financing for only $25 per month with a Wal-Mart credit card to let low income consumers finance iPhone 5.

I feel sorry for select Apple fans who have been boisterous in looking down on those who used Google (GOOG) Android, Microsoft (MSFT) Windows phones such as those from Nokia (NOK), or heaven forbid a Blackberry from Research In Motion (RIMM).

I have been writing for quite some time that long-term risks in Apple stock are rising. This is the reason I have advised my subscribers to take profits on 80% of the position.

There is still significant value in Apple stock. This is the reason that we continue to hold 20% of our original position although we have taken profits on the rest. Our plan is to add to the Apple position if hunt and destroy algorithms become active prior to Apple’s earnings report. (For details on hunt and destroy algorithms please see Beware Traders Who Want To Stop You Out Of Apple.)

About Me: I am an engineer and nuclear physicist by background. I founded two Inc. 500 companies, and have been involved in over 50 entrepreneurial ventures. I am the chief investment officer at The Arora Report, which publishes four newsletters to help investors profit from change. Write me: Nigam@TheAroraReport.com. Follow me here and get email notification when I publish a new article.

Full disclosure: Subscribers to The Arora Report are long Apple from $131 and have taken partial profits at $360, $525, $629, $568 and $610. Subscribers to The Arora Report are also long Nokia and Microsoft.